---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-23-204538"
form_type: "8-K"
ticker: "IOBTQ"
cik: "0001865494"
company_name: "IO Biotech, Inc."
filed_at: "2023-08-07T23:59:59+00:00"
generated_at: "2026-06-12T04:58:39.219759+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# IO Biotech raises ~$75M in private placement; cash runway extended to Q4 2025

## Summary
- Gross proceeds of ~$75.1M from sale of 37.1M shares and warrants at $2.025 combined price.
- Warrants to purchase 37.1M shares at $2.47, exercisable for 42 months from issuance.
- Institutional investors include Lundbeckfonden BioCapital, Novo Holdings, Vivo Capital, and others.
- Joint placement agents are Morgan Stanley and Piper Sandler, earning ~6% fee.
- Management expects cash to fund operations into Q4 2025, supporting pivotal Phase 3 and Phase 2 trials.

## SEC filing metadata
- accession: 0001193125-23-204538
- form_type: 8-K
- ticker: IOBTQ
- cik: 0001865494
- company_name: IO Biotech, Inc.
- filed_at: 2023-08-07T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 1.01, 3.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1865494/000119312523204538/0001193125-23-204538-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1865494/000119312523204538/d493270d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-23-204538
- JSON: https://secwatch.observer/filing/0001193125-23-204538.json
- Plain text: https://secwatch.observer/filing/0001193125-23-204538.txt

## Key facts
- Material Agreements
  IO Biotech, Inc. entered into Securities Purchase Agreement with certain institutional investors valued at approximately $75.1 million (effective 2023-08-07).
  - Action: entry
  - Agreement: equity purchase
  - Counterparty: certain institutional investors
  - Value: approximately $75.1 million
  - Effective: 2023-08-07
  source text: On August 7, 2023, IO Biotech, Inc. (the “Company”) entered into a Securities Purchase Agreement (the “Purchase Agreement”) with certain institutional investors (the “Purchasers”), pursuant to which the Company agreed to sell and issue (i) 37,065,647 shares of the Company’s common stock (“Common Stock”), and (ii) 37,065,647 warrants to purchase up to 37,065,647 shares of Common Stock (the “Warrants”) in a private placement transaction (the “Private Placement”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1865494/000119312523204538/0001193125-23-204538-index.htm
- Material Agreements
  IO Biotech, Inc. entered into Registration Rights Agreement with the Purchasers (effective 2023-08-07).
  - Action: entry
  - Counterparty: the Purchasers
  - Effective: 2023-08-07
  source text: On August 7, 2023, the Company also entered into a registration rights agreement (the “Registration Rights Agreement”) with the Purchasers.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1865494/000119312523204538/0001193125-23-204538-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.